Nuance’s Automotive Spinoff Makes Market Debut

“…the company noted that its AI solutions are already being used in almost 300 million vehicles, from brands including Audi, BMW, Daimler, Ford, Geely, GM, SAIC, and Toyota, among others.”

Nuance's Automotive Spinoff Makes Market Debut

Cerence has officially spun off from its parent company, Nuance Communications, having become a standalone connected car solutions specialist on October 1st. The official spinoff means that Cerence is also now it’s own publicly traded company, listed under the symbol CRNCV.

The company has been established to leverage Nuance Communications’ sophisticated AI-powered technologies in automotive applications, and it already has a solid customer base to build on. In announcing its official branching off from Nuance, the company noted that its AI solutions are already being used in almost 300 million vehicles, from brands including Audi, BMW, Daimler, Ford, Geely, GM, SAIC, and Toyota, among others. Over half of all cars shipped so far this year feature Nuance/Cerence technology, the company says.

As for the solutions themselves, these include voice interaction technology enabling users to interface with their connected vehicles via speech, as well as gesture, gaze, and even emotion detection technologies.

Offering his commentary in Cerence’s first big announcement, Sanjay Dhawan, who was appointed the spinoff’s CEO this past spring, expressed enthusiasm about Cerence’s market potential. “As the automotive industry continues to move at lighting speed, there is a tremendous opportunity to introduce the next generation of mobility, connectivity, and autonomy,” he said. “The ability to focus solely on the automotive market will be hugely beneficial in achieving the next level of technological innovation in this space. With our new, hyper-focused vision, we’ll not only be able to meet the most ambitious consumer expectations but also challenge the industry as a whole to redefine the immersive driver experience.”

Cerence’s corporate leadership also includes a roster of board members unveiled in August: Nuance Business Transformation VP Thomas Beaudoin, CyberArk Software CMO Marianne Budnik, Eclipse Ventures general partner Sanjay Jha, Thomas H. Lee Partners executive advisor Kristi Ann Matus, and executive consultant Alfred Nietzel. Dhawal, as CEO, also sits on the Board of Directors.